Rupee Surges 124 Paise to 90.27, Biggest Single-Day Gain Since Dec 2018
Currency
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CNBC TV18•03-02-2026, 15:51
Rupee Surges 124 Paise to 90.27, Biggest Single-Day Gain Since Dec 2018
- •The Indian rupee closed at 90.27 per US dollar on Tuesday, marking its largest single-day gain since December 2018.
- •The surge is attributed to an overnight US–India trade deal that cut tariff levels to 18%, improving India's trade position.
- •Finrex Treasury Advisors' Anil Kumar Bhansali stated the tariff cut reopens doors for FII participation and gives India a comparative edge over neighbors.
- •The rupee opened strong at 90.30/$ and maintained gains throughout the trading session.
- •Globally, a weaker US dollar index and falling Brent crude futures also contributed to the rupee's strength.
Why It Matters: The Indian rupee saw its biggest single-day gain since Dec 2018, driven by a US-India trade deal.
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